Goldman Sachs Leads $100M Series F Funding for MoEngage

Why It Matters

The backing from Goldman Sachs validates MoEngage’s AI‑driven engagement model and accelerates its push into mature markets, heightening competition with legacy martech giants. Achieving EBITDA positivity and scaling in North America and Europe could reshape the B2C marketing stack and position the firm for a multi‑billion‑dollar valuation.

Deal Summary

MoEngage announced a $100 million Series F round, with Goldman Sachs Alternatives leading and Indian venture firm A91 Partners co‑leading the investment. The round, split 60% primary and 40% secondary, aims to accelerate the startup's global expansion and AI capabilities. The funding brings MoEngage's total capital raised to $250 million.